One in 10 community banks planning to launch crypto services
Insights from the 2022 Federal Reserve/CSBS survey of community banks.
Browsing: Mergers and acquisitions
Provident in N.J. to buy Lakeland for $1.3 billion
Provident Financial Services in Iselin, New Jersey, has agreed to buy Lakeland Bancorp in Oak Ridge, New Jersey.
M&A News: VisionBank of Iowa to buy Legacy Bank
VisionBank of Iowa in Ames has agreed to buy Legacy Bank in Altoona, Iowa.
BankFirst Capital to buy Mechanics Bank in Mississippi
BankFirst Capital in Columbus, Miss., has agreed to buy Mechanics Banc Holding in Water Valley, Miss.
M&A News: Thumb Bancorp to buy Exchange State in Michigan
Thumb Bancorp in Pigeon, Mich., has agreed to buy Exchange State Bank in Carsonville, Mich. The $401 million-asset Thumb said in a press release that it will pay $29.9 million in cash and stock for the $219 million-asset Exchange Bank.
M&A News: TowneBank expands in Virginia
TowneBank in Suffolk, Virginia, has agreed to buy Farmers Bankshares in Windsor, Virginia. The $16.9 billion-asset TowneBank said in a press release Thursday that it will pay $56 million in stock for the $609 million-asset Farmers.
ABA: Updates needed to FDIC merger guidelines
In a detailed comment letter to the FDIC on Friday, the American Bankers Association called for updates to the agency’s 25-year-old guidelines regarding bank merger transactions, acknowledging the significant changes that the financial services industry has undergone since they were originally put in place.
OCC’s Hsu: Time to update bank merger analysis frameworks
Hsu said frameworks for analyzing bank mergers need updating, but a merger moratorium would prevent deals that increase competition, better serve communities better, and enhance resiliency.
Hsu: OCC weighing conditions’ for large bank merger approval to ensure resolvability
Speaking at an industry event today, Acting Comptroller Michael Hsu warned that “there is a gap with regards to large regional banks” when it comes to resolvability, and signaled his desire for additional reforms to ensure financial stability in the event of a large regional bank failure.
FDIC Seeks Input on Bank Mergers
The FDIC issued a request for information today seeking public input on bank merger transactions, including mergers between an insured depository institution and a noninsured institution.